launches coverage on Middlefield Banc (NASDAQ: MBCN)

0 began to cover the shares of Middlefield Bank (NASDAQ: MBCN – Get a rating) in a research report released Tuesday. The company has placed a “buy” rating on the bank’s shares.

The NASDAQ MBCN opened at $24.81 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt ratio of 0.09. Middlefield Banc has a 12-month low of $22.65 and a 12-month high of $30.62. The company has a market capitalization of $145.29 million, a price-earnings ratio of 8.24 and a beta of 0.68. The company’s 50-day moving average is $25.33 and its 200-day moving average is $25.26.

Middlefield Bank (NASDAQ: MBCN – Get a rating) last released its quarterly earnings data on Thursday, April 21. The bank reported earnings per share of $0.65 for the quarter, beating the consensus estimate of $0.62 by $0.03. Middlefield Banc had a return on equity of 12.55% and a net margin of 31.63%. On average, research analysts expect Middlefield Banc to post earnings per share of 2.42 for the current fiscal year.

A number of institutional investors and hedge funds have recently changed their positions in the company. Dimensional Fund Advisors LP increased its stake in Middlefield Banc by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 96,410 shares of the bank worth $2,393,000 after purchasing an additional 463 shares during the period. UBS Group AG increased its stake in Middlefield Banc by 21.6% in the third quarter. UBS Group AG now owns 2,977 shares in the bank worth $71,000 after purchasing an additional 529 shares during the period. State Street Corp increased its stake in Middlefield Banc by 8.1% in the first quarter. State Street Corp now owns 17,700 shares of the bank worth $439,000 after buying 1,323 additional shares during the period. Royal Bank of Canada increased its stake in Middlefield Banc by 229.6% during the second quarter. Royal Bank of Canada now owns 2,037 shares of the bank worth $48,000 after purchasing an additional 1,419 shares during the period. Finally, Barclays PLC increased its stake in shares of Middlefield Banc by 230.3% in the 4th quarter. Barclays PLC now owns 2,309 shares in the bank valued at $57,000 after buying an additional 1,610 shares during the period. 28.84% of the shares are currently held by hedge funds and other institutional investors.

About Middlefield Bench (Get a rating)

Middlefield Banc Corp. operates as a bank holding company for The Middlefield Banking Company which provides various commercial banking services to small and medium-sized businesses, professionals, small business owners and retail customers in Northeast and Central Ohio . It offers checking accounts, savings accounts, negotiable withdrawal orders, money market accounts, term deposit certificates, business loans, home loans, various consumer loans, safe deposit boxes and travellers cheques.

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